New Delhi: Discount cost based expansion rate declined by (- ) 3.48 percent in May, a 3-year low, on facilitating costs of food, fuel and made things.
The discount cost list (WPI) based expansion rate has been an in the negative area for the second consecutive month. In April it was (- ) 0.92 percent.
In May, 2022 WPI expansion was at 16.63 percent.
The May, 2023 information print of (- ) 3.48 percent is the most minimal WPI print recorded since May 2020, when discount expansion was at (- ) 3.37 percent.
Expansion in food articles facilitated to 1.51 percent in May, against 3.54 percent in April.
“Decrease in the pace of expansion in May, 2023 is principally contributed by fall in costs of mineral oils, essential metals, food items, materials, non-food articles, rough petrol and flammable gas, and substance and compound items,” the business and industry service said today.
In fabricated items, the expansion rate was (- ) 2.97 percent in the month under survey, as against (- ) 2.42 percent in April.
The deceleration in WPI comes in accordance with the facilitating of May retail expansion, which came in at a 25-month low of 4.25 percent.